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Affordable Homes Programme
Author: Chloe Smith, Updated: 01 September 2021 14:04
The Government has announced a new Affordable Homes Programme which will help thousands of people onto the housing ladder.
£8.6 billion has been allocated for affordable homes across the country which will deliver around 119,000 homes, including 57,000 for ownership, 29,600 for social rent, which are typically 50-60% of market prices, and 6,250 affordable rural homes.
It will also deliver new supported housing for some of the most vulnerable, providing homes for older or disabled people with support needs.
This scheme will help people onto the housing ladder and could also support up to 370,000 jobs across the country for homebuilders, SME developers and wider businesses which support the house building industry. This is expected to generate up to £26 billion of other private and public investment.
Housing Secretary Robert Jenrick MP said: “Creating more opportunities for home ownership is central to this government. This £9 billion funding is a landmark moment for our Affordable Homes Programme and will ensure good quality housing for all as we build back better after the pandemic. This huge funding package will make the ambition of owning a home a reality for families by making it realistic and affordable. We are also ensuring tens of thousands of new homes for rent are built in the years ahead, including social rent, so those on the lowest incomes can enjoy good quality, secure rented homes, built and managed by reputable providers.”
I welcome this funding which is part of the largest single investment in affordable housing in a decade and will help make the ambition of homeownership a realistic and affordable reality for families and young people, whilst creating jobs, which are some of my key local priorities for constituents in Norwich North.
To find out more about my Housing priorities, please visit: https://www.chloesmith.org.uk/myplan/homes
Chloe Smith